Retirement savers who like to take control of their finances have different goals and strategies, but they share one thing in common—a desire for financial security. Whether you're a mid-career professional with a family, or a single parent empty nester, benefits like guaranteed growth, protection from market downside, and tax deferral are probably high on your list—and that's where a Multi-Year Guarantee Annuity from American National Insurance Company really shines. Now available online, they offer financial planners a competitive interest rate and protection against market volatility—all while allowing access to up to 10% of their monthly annually, free from surrender charges or market value adjustments.
Let's take a look at some hypothetical profiles to illustrate how MYG Annuities can support a variety of financial goals and help build long-term security across different life stages.
Deliberate Dave and Linda: The Tax-Savvy Couple Planning their Retirement Transition
David and Linda are 60 and 57 and married with a child still in college. They are deliberate planners who prioritize protecting their savings and minimizing taxes in retirement—a goal each hopes to achieve in the next three years.
Financial Situation
Dave and Linda have built up retirement savings across an IRA, brokerage account, money market account, and CDs. While their IRA offers tax advantages, they're exploring whether reallocating some of their larger assets could provide better flexibility and outcomes. With a child still in college and retirement on the horizon, they're focused on balancing tax efficiency with access to funds and protection from market volatility.
Goals
They are looking to move their money out of maturing CDs and want something that avoids market exposure but still gives a competitive rate of return. They're also thinking ahead to when they will be in a lower tax bracket. Bridging the gap between early retirement and Social Security is also an important consideration.
Why an MYG Annuity makes sense
An MYG Annuity provides Dave and Linda with guaranteed growth of their nest egg with no market exposure. Plus, they'll enjoy a couple different tax advantages when they use it to defer taxes until retirement: First, it allows them to grow their retirement savings free of annual taxes on earnings until they choose to make a withdrawal. Second, if they wait until retirement to withdraw, they'll likely be in a lower tax bracket and owe less in taxes. They also have a built-in option for flexibility.
Remember how bridging the gap between early retirement and Social Security was a concern? With an MYG Annuity, David and Linda have flexibility to access up to 10% of their MYG Annuity penalty-free annually (with no IRS penalty after 59 1/2). It's reassuring to know that they can access some of their funds during the guaranteed interest rate period if something unexpected comes up.